Strong and predictable justice delivery essential for economic growth, investment and technological development: CJI
NEW DELHI, SEPTEMBER 5:
Chief Justice of India (CJI) Surya Kant on Saturday described the judicial system as a “load-bearing wall” of a nation, emphasising its crucial role in supporting economic growth, technological advancement, dispute resolution and sustainable development.
CJI Surya Kant made the remarks while delivering the welcome address at the BRICS Chief Justices’ Forum, hosted at the Supreme Court of India.
Drawing an analogy with the architecture of a building, the Chief Justice said that judicial institutions may not always receive visible recognition, but they remain indispensable to the functioning and stability of a nation.
“Our role, as representatives of the justice delivery system, is much like that of a load-bearing wall within a building. No architect ever photographs it for the brochure, and yet no building stands without it. That, precisely, is the place judicial systems occupy in the life of a nation,” CJI Kant said.
Uncertainty in Commercial Disputes Raises Business Costs
The CJI further highlighted the close connection between an effective judicial system and the business environment, stating that uncertainty in the settlement of commercial disputes can substantially increase the cost of doing business.
He pointed out that when foreign investors lack confidence in a country’s dispute-resolution mechanisms, commercial agreements tend to carry greater risks. Such uncertainty, he said, may result in higher risk premiums, additional security requirements and stricter exit provisions in contracts.
According to CJI Kant, these additional burdens effectively become an unwritten cost imposed on businesses and investors, even though such costs may not have been directly mandated by legislation.
“It becomes, in every practical sense, an unwritten punitive cost of doing business, one that no legislature ever imposed, yet every investor ends up paying,” the CJI observed.
Swift Justice Can Strengthen Investor Confidence
The Chief Justice stressed that courts have an important responsibility in reducing such uncertainty by ensuring that disputes are resolved swiftly, consistently and through clear and reliable judgments.
He said an efficient justice delivery mechanism can help eliminate hidden costs associated with prolonged litigation and uncertainty, while simultaneously strengthening public and investor confidence in the rule of law.
CJI Kant’s remarks underline the wider role of judicial institutions beyond conventional dispute resolution, highlighting their importance in creating an environment conducive to economic development, investment, innovation and sustainable growth.(KNC)